ACROW LIMITED — Major Shareholding Notification 2020

Jun 10, 2020

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme Acrow Formwork and Construction Services Ltd	To Company Name/Scheme Acrow Formwork and Construction Services Ltd
ACN/ARSN: 36 124 893 465	Source:	Australian Business Register
1. Details of substantial holder (1)
Name: Perennial Value Management	Limited (PVM)
ACN/ARSN (if applicable) 22 090 879 904
There was a change in the interest of the substantial holder on		9 June 2020
The previous notice was given to the company on		17 March 2020
The previous notice was dated		13 March 2020

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relavant interest

Class of securities (4)	Previous notice	Previous notice	Present notice	Present notice
	Person's votes	Voting Power(%) (5)	Person's votes	Voting Power(%) (5)
Ordinary	26,343,577	12.79	24,578,995	11.33

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class & number of securities affected	Person's votes affected
19/03/2020	National Asset Servicing	BuyOn the Market	28,016.47 $	143,506	143,506
19/03/2020	Northern Trust	BuyOn the Market	39,663.61 $	203,165	203,165
25/03/2020	National Asset Servicing	Sell On the Market	8,973.02 $	50,000	50,000
25/03/2020	National Asset Servicing	Sell On the Market	8,998.02 $	50,000	50,000
30/03/2020	National Asset Servicing	BuyOn the Market	12,865.19 $	69,504	69,504
30/03/2020	National Asset Servicing	BuyOn the Market	12,382.13 $	69,802	69,802
30/03/2020	BNP Paribas Securities Services	Sell On the Market	12,865.19 $	69,504	69,504
1/04/2020	BNP Paribas Securities Services	Sell On the Market	546.10 $	2,105	2,105
1/04/2020	National Asset Servicing	Sell On the Market	1,522.58 $	5,869	5,869
1/04/2020	National Asset Servicing	Sell On the Market	988.42 $	3,810	3,810
1/04/2020	Northern Trust	Sell On the Market	1,350.06 $	5,204	5,204
2/04/2020	BNP Paribas Securities Services	Sell On the Market	1,678.47 $	6,866	6,866
2/04/2020	National Asset Servicing	Sell On the Market	4,679.23 $	19,141	19,141
2/04/2020	National Asset Servicing	Sell On the Market	3,037.18 $	12,424	12,424
2/04/2020	Northern Trust	Sell On the Market	4,148.50 $	16,970	16,970
3/04/2020	BNP Paribas Securities Services	Sell On the Market	2,695.28 $	10,593	10,593
3/04/2020	National Asset Servicing	Sell On the Market	7,513.84 $	29,531	29,531
3/04/2020	National Asset Servicing	Sell On the Market	4,877.08 $	19,168	19,168
3/04/2020	Northern Trust	Sell On the Market	6,661.47 $	26,181	26,181
16/04/2020	BNP Paribas Securities Services	Buy On the Market	3,297.95 $	14,003	14,003
16/04/2020	National Asset Servicing	BuyOn the Market	4,915.24 $	20,870	20,870
16/04/2020	Northern Trust	BuyOn the Market	6,928.91 $	29,420	29,420
7/05/2020	BNP Paribas Securities Services	Buy On the Market	29,476.50 $	127,933	127,933
7/05/2020	National Asset Servicing	BuyOn the Market	35,366.60 $	153,497	153,497
7/05/2020	Northern Trust	BuyOn the Market	52,304.88 $	227,012	227,012
8/05/2020	BNP Paribas Securities Services	Buy On the Market	2,700.21 $	11,465	11,465
8/05/2020	National Asset Servicing	BuyOn the Market	3,239.54 $	13,755	13,755
8/05/2020	Northern Trust	BuyOn the Market	4,791.36 $	20,344	20,344
26/05/2020	National Asset Servicing	Sell On the Market	209,917.50 $	789,716	789,716
26/05/2020	National Asset Servicing	Sell On the Market	18,184.90 $	67,500	67,500
27/05/2020	BNP Paribas Securities Services	Buy On the Market	1,448,288.49 $	5,307,030	5,307,030
27/05/2020	National Asset Servicing	Sell On the Market	1,448,288.49 $	5,307,030	5,307,030
27/05/2020	National Asset Servicing	Sell On the Market	102,286.99 $	381,371	381,371
9/06/2020	BNP Paribas Securities Services	Sell On the Market	100,346.55 $	340,902	340,902
9/06/2020	National Asset Servicing	Sell On the Market	112,466.52 $	382,083	382,083
9/06/2020	Northern Trust	Sell On the Market	170,700.03 $	579,920	579,920

4. Present Relevant Interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class & number of securities (Ord)	Person's votes
Perennial Value Management Limited	National Asset Servicing	National Asset Servicing	6,327,884	6,327,884	6,327,884
Perennial Value Management Limited	Northern Trust	Northern Trust	8,873,084	8,873,084	8,873,084
Perennial Value Management Limited	BNP Paribas Securities Services	BNP Paribas Securities Services	9,378,027	9,378,027	9,378,027

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting

Name & ACN	Nature of association
Not applicable

6. Addresses

The addresses of persons named in this form as as follows:

Name		Address
Perennial Value Management Ltd	Level 27, 88 Phillip St
	SydneyNSW 2000
Acrow Formwork and	Acrow Formwork And Construction Services Ltd2A Mavis
Construction Services Ltd	Street,Revesby,Nsw 2212
Signature
Print Name	Bill Anastasopoulos	Capacity	Company Secretary
Sign Here		Date	10/06/2020

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